SPAIN: €6.4m net loss at Paternina

By just-drinks.com editorial team | 28 March 2002

The Rioja-based winery, Bodegas Paternina, has reported a €6.4m (US$5.6m) net loss for 2001 against a net profit of €860,000 in 2000. Turnover at the company in 2001 fell by 32% to €29.3m. Paternina said it expects to move back into profit in 2004. In January, the company took out a five-year syndicated loan with 10 banks for €36.1m.

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The Rioja-based winery, Bodegas Paternina, has reported a €6.4m (US$5.6m) net loss for 2001 against a net profit of €860,000 in 2000. Turnover at the company in 2001 fell by 32% to €29.3m. Paternina said it expects to move back into profit in 2004. In January, the company took out a five-year syndicated loan with 10 banks for €36.1m.

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